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Crude Oil May 27 (CLK27.NYM)

NY Mercantile - NY Mercantile Delayed price. Currency in USD
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66.55-2.83 (-4.08%)
As of 02:39PM EDT. Market open.
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  • Yahoo Finance Video

    2 reasons why oil will remain between $80 and $90 per barrel

    Crude oil (BZ=F, CL=F) prices are rebounding in Wednesday's trading session, ending a three-day slide. The Morning Brief welcomes on Rystad Energy global market analysis director and head of oil macro Claudio Galimberti to discuss the oil market dynamics at play. Galimberti attributes the oil rally primarily to demand concerns in China. "This is the major factor for this week that everybody is looking at," he says, also mentioning how Canadian wildfires may be contributing to price phenomena. He emphasizes that "the [energy] markets are still tight." Looking ahead, Galimberti forecasts oil prices to remain range-bound between $80 and $90 per barrel, largely due to OPEC production cuts. He explains this range with two key points: first, prices are unlikely to fall below $80 because "OPEC is very determined" to keep this threshold; second, prices are unlikely to exceed $90 because "when prices are high, there is an incentive for OPEC+ members to not be compliant" with agreed-upon production cuts. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

  • Yahoo Finance Video

    Stocks dragged down by chip sell, oil prices tick up

    The major market averages (^DJI, ^IXIC, ^GSPC) are coming under pressure Wednesday morning, the Nasdaq Composite falling off by over 300 points — or over 1.6% — as semiconductor stocks drag down the tech-heavy indexes. Seana Smith and Madison Mills monitor market moves after the opening bell, joined by Jared Blikre who examines price trends in leading commodities like crude oil (CL=F, BZ=F) and gold (GC=F). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.

  • Yahoo Finance

    Oil prices fall as traders assess China growth worries

    Oil prices declined Tuesday as traders assessed the latest GDP growth data from China.